*The lowest APR (Annual Percentage Rate) offered is 4.74%, which is a variable rate, and is subject to change. All balances will be calculated at a standard variable APR as indexed to The Wall Street Journal Prime Rate (as of January 12, 2018, the Prime Rate was 4.50%), plus a margin of 0.24% for the life of the loan. To obtain the advertised rate, applicants must possess a Beacon Score of 720 or greater and automatic deduction of monthly payment is required from a Union checking account. The maximum APR is 24% or maximum permitted by state law, whichever is less. This Union Bank & Trust Home Equity Line of Credit has a 20-year draw period with a final balloon payment. There is no origination fee charged to open. Other fees may be charged at origination, closing or subsequent to closing, ranging from $0 to $1,000. Offer is subject to credit approval and is based on a minimum equity line amount of $50,000 with a maximum combined loan-to-value of 80%. Bank must be in a valid first or subordinate lien position on the collateral. Home Equity Lines of Credit closed within 36 months from the opening date will be charged a prepayment penalty as follows: Lines ≤ $100,000 will be charged 1.00% of the line amount. Lines > $100,000 will be charged 0.50% of the line amount. Property insurance and flood insurance, where applicable, will be required. This offer is limited to primary and secondary, single-family residential real property located in Virginia. Please consult a tax advisor regarding interest deductibility. Certain conditions and restrictions may apply.
**Bank will pay all closing costs for non-purchase money equity lines up to $249,999. Equity lines of $250,000 or more, and subordinate equity lines used for purchase money, will receive a $600 credit toward closing costs.